Cathie Wood’s Ark Invest Sells Another Batch of Coinbase Shares, Rebalances ETF Portfolio

Ark Invest made a significant move this week by selling 13,780 shares of Coinbase, valued at $3.9 million, from its Fintech Innovation ETF (ARKF).

This decision came after a 10% drop in Coinbase’s stock, following the Federal Reserve’s more hawkish tone.

The sale is part of Ark Invest’s strategy to maintain portfolio diversification, as the firm typically avoids letting any single holding exceed 10% of an ETF’s total assets.

Prior to the sale, Coinbase represented 9.9% of ARKF’s holdings, making it the second-largest position in the fund, just behind Spotify.

Despite this adjustment, Coinbase remains a prominent part of ARKF, with the total value of the fund’s Coinbase holdings still around $110 million.

Ark Invest’s move follows a broader trend of frequent rebalancing in response to market shifts, ensuring the ETF remains aligned with its risk and diversification goals.

This latest action reflects Ark’s active management style, which involves adjusting positions based on market conditions and the performance of individual stocks.